Featuring real estate articles and information to help real estate buyers and sellers. The Nest features writings from Georges Benoliel and other real estate professionals. Georges is the Co-Founder of NestApple and has been working as an active real estate investor for over a decade.
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The meaning of co-purchaser is simple: someone who buys the apartment with you and co-owns it. In a New York co-op, both names appear on the stock certificate and the proprietary lease, and both are liable for all payments and… Read More
A contract deposit is the cash a buyer wires when signing the purchase contract, customarily 10% of the price in NYC and technically negotiable. The down payment is your total cash contribution toward the price. The contract deposit is part… Read More
A contract rider in a real estate deal in New York City? Does the rider take precedence over the main purchase contract? In this article, we will cover everything you need to know about contract riders for real estate transactions… Read More
In New York City, the typical real estate commission ranges from 5% to 6% of the sale price, well above the national average the Richmond Fed’s own research tracks. This makes broker commissions the highest closing cost for sellers in… Read More
Located in the Midwestern heartland of the United States, Ohio is one of the country’s great cultural centers. With a population of 11,785,935, Ohio is the seventh most populous state and the tenth most densely populated. Ohio also has several… Read More
To recast a mortgage, pay a lump sum toward principal, usually $10,000 or more, and ask your lender to recalculate your monthly payment based on the smaller balance. Your rate and payoff date stay the same. Most lenders charge no… Read More
Dual agency occurs when a real estate broker represents both the buyer and the seller in the same transaction. New York allows it, but only with the informed written consent of both parties, because a dual agent can’t negotiate or… Read More
Deciding whether to place your house in a trust largely depends on your individual circumstances. One of the primary benefits of putting your house in a trust is that it helps you avoid probate upon your death. This not only… Read More
A lowball offer is generally one that’s 10% to 30% below the asking price. In NYC, it rarely works: sellers in co-op and condo buildings usually know their comps cold, since recent sales in the same building are public and… Read More
California boasts miles of stunning, golden coastline. From the palm-fringed beaches of Los Angeles to the rugged cliffside beaches of Northern California, the Pacific coastline offers breathtaking views. However, dipping your toes in the Pacific can be challenging at times… Read More
A listing agent represents the seller; a selling agent, usually called a buyer’s agent in NYC, represents the buyer. Dual agency, one agent for both sides, is legal in New York with informed consent but rarely serves either party equally.… Read More
A property management agent handles the day-to-day administration of a co-op or condo under a contract with its board. Typical work includes collecting charges, paying approved bills, coordinating repairs and staff, maintaining records, supporting compliance, and communicating with residents. The… Read More
New York has no standardized offer-to-purchase real estate form. Most NY offers go out as an email from your agent to the listing agent, with the same core details every time: price, a deposit commonly 10%, contingencies, and closing date.… Read More
New York City, affectionately known as “The Big Apple” and “Gotham,” has developed a vibrant identity over the years. As the most densely populated city in the United States, NYC serves as a hub for culture, finance, technology, and the… Read More
Chicago is renowned for its rich history, diverse culinary scene, and iconic architecture. Surrounding the city are some of Illinois’s most luxurious suburbs. This list highlights the ten wealthiest suburbs around Chicago, per Census Bureau income data, showcasing some of… Read More
